Robust outlook for Cambodian banks

The banking system in Cambodia is expected to remain robust in 2013 despite the economic crisis in Europe and the economic slowdown in the US, Nguon Sokha, Director General of the National Bank of Cambodia (NBC), which is the regulator of the country’s banking and financial institutions, said on December 26.

The sector has maintained strong and steady growth in terms of loans and deposits in 2012 thanks to better economic performance in the country and the ASEAN region, Sokha added.

“Both loans and deposits have sharply increased in 2012,” she said.

According to the latest statistics provided by the NBC, Cambodia’s 32 commercial banks have lent $5.49 billion to private sectors by November 2012, a plus of 30 per cent year-on-year.

The loans went mostly to the sectors of trades, real estate, construction and mortgage, agriculture, manufacturing, tourism and services.

On the deposit side, the banks have received $6.02 billion by November 2012, plus 24 per cent over the same period in 2011. The banks are serving about 1.6 million borrowers and 1.9 million depositors, the NBC added.

“We believe that the sector will continue to grow at a similar rate in 2013,” Sokha said.

The banking system in Cambodia is expected to remain robust in 2013 despite the economic crisis in Europe and the economic slowdown in the US, Nguon Sokha, Director General of the National Bank of Cambodia (NBC), which is the regulator of the country’s banking and financial institutions, said on December 26.

The sector has maintained strong and steady growth in terms of loans and deposits in 2012 thanks to better economic performance in the country and the ASEAN region, Sokha added.

“Both loans and deposits have sharply increased in 2012,” she said.

According to the latest statistics provided by the NBC, Cambodia’s 32 commercial banks have lent $5.49 billion to private sectors by November 2012, a plus of 30 per cent year-on-year.

The loans went mostly to the sectors of trades, real estate, construction and mortgage, agriculture, manufacturing, tourism and services.

On the deposit side, the banks have received $6.02 billion by November 2012, plus 24 per cent over the same period in 2011. The banks are serving about 1.6 million borrowers and 1.9 million depositors, the NBC added.

“We believe that the sector will continue to grow at a similar rate in 2013,” Sokha said.